Zooz Power shareholders approve private placement, bitcoin treasury strategy

ZOOZ Power (ZOOZ) announced that at its Extraordinary General Meeting, shareholders voted to approve all proposals related to the Company’s previously announced $180 million private placement and Bitcoin Treasury Reserve Strategy. Following this approval, ZOOZ expects to close the PIPE during the week of September 22, 2025, subject to customary closing conditions and final documentation. Key Proposals Approved: Issuance of Ordinary Shares and Warrants in connection with the $180 million PIPE, including $5 million sold in the initial private placement; Amendment to the Company’s Articles of Association to increase the authorized share capital; Election of Alberto Franco and Jonas Grossman to the Company’s Board of Directors upon the Closing Date; Nasdaq Approval necessary to implement the transaction and ensure continued compliance with Nasdaq and TASE listing requirements Proceeds from the PIPE will primarily be used to launch ZOOZ’s Bitcoin Treasury Reserve Strategy. The Company intends to allocate approximately 95% of the net proceeds to purchase and hold Bitcoin on its balance sheet, becoming the first dual-listed Nasdaq and TASE company to formally adopt a Bitcoin treasury reserve strategy.